Insurance
Miner BHP Potentially Faces $44B Lawsuit in London Over Brazil Dam Collapse
Mining group BHP Group is potentially facing a 36 billion pound ($44 billion) lawsuit in London over Brazil’s worst environmental disaster after the number of claimants more than tripled to 700,000, their lawyers said on Wednesday. BHP was initially sued …
Read More Australia’s Latitude Group and IPH Hit by Cyber Attacks, Continuing Wave of Hacks
Digital payments firm Latitude Group Holdings and intellectual property services provider IPH Ltd. reported data breaches on Thursday, joining a host of other Australian firms targeted by hackers in recent months. Some of Australia’s largest companies have reported data breaches …
Read More Credit Suisse Secures $54 Billion Lifeline to Shore Up Liquidity, Investor Confidence
Credit Suisse shares soared by over 35% in premarket trading on Thursday, while the value of its bonds soared after the company secured a $54 billion lifeline from the Swiss National Bank to shore up liquidity and investor confidence. JPMorgan …
Read More Survey: Insurance Often a Blind Spot for Small Businesses
Findings from a recent NEXT Insurance survey highlight a significant gap between small business owners’ biggest stressors in 2023 and what they’re prepared for when it comes to their insurance knowledge and coverage. The data’s overarching takeaway: Insurance is often …
Read More Progressive More Than Doubles Feb. Income, Reports Investments With Failed Banks
In reporting February financial results that continued a positive start to 2023, Progressive Corp. said it has about $75 million total investments tied to banks recently taken over by the Federal Deposit Insurance Corporation (FDIC). Progressive Corp. recorded February net …
Read More U.S. Senate Majority Leader Urges Federal Safety Probe Into all Major Freight Railroads
U.S. Senate Majority Leader Chuck Schumer on Wednesday urged a federal investigation into safety practices of all seven major freight railroads, following the East Palestine, Ohio derailment of a Norfolk Southern Corp. train. In a letter, Schumer urged the National …
Read More Berkshire Hathaway to Beef Up Risk Disclosures Following SEC Request
Berkshire Hathaway Inc. agreed to better explain how its board of directors manages risks, including those taken by longtime Chairman Warren Buffett, after the U.S. Securities and Exchange Commission asked that it do a better job. In correspondence made public …
Read More Florida Lobbying Firm Hires Altmaier as Advisor, Despite Lobbying Restrictions
Former Florida Insurance Commissioner David Altmaier is barred by law from working as a lobbying for at least two years after leaving office. So, in his new position with one of the largest and most influential lobbying firms in the …
Read More Amendment to Florida Tort-Reform Would Grant One-Way Attorney Fees in Some Cases
A sponsor of a far-reaching Florida tort-reform bill warned last week that the measure, unlike previously adopted insurance legislation, is subject to change as it moves through the House and the Senate. On Tuesday, that proved true as the Senate …
Read More Arthur J. Gallagher & Co. Buys UK Broker FE Protect
Arthur J. Gallagher & Co. announced the acquisition of UK-based AT Squared Holdings Ltd., operating as FE Protect. Terms of the transaction were not disclosed. FE Protect is an insurance broker specializing in the UK education sector. Based in Merseyside, …
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